Fibocom's net profit in the first half of the year was RMB 203 million, up 47.27% year-on-year

On August 23, Quectel released its 2021 semi-annual report showing that its operating income in the first half of the year was 1.822 billion yuan, a year-on-year increase of 43.85%; its net profit was 203 million yuan, a year-on-year increase of 47.27%; and its net profit after deducting non-recurring gains and losses was 178 million yuan, a year-on-year increase of 41.31%.

Regarding the changes in performance, Quectel stated that the main factors were: continued increase in R&D investment and layout in the first half of the year, the release of a number of new products, new progress in product certification, and strengthening of technical exchanges and cooperation with downstream customers; increased market expansion efforts; and implementation of the 2021 equity incentive plan.

Fibocom is a world-leading supplier of IoT wireless communication solutions and wireless modules, providing end-to-end IoT wireless communication solutions to telecom operators, IoT equipment manufacturers, and IoT system integrators; and has strong R&D capabilities in communication technology, radio frequency technology, data transmission technology, and signal processing technology.

Fibocom attaches great importance to technology research and development. As of June 30, 2021, Fibocom has 1,369 employees, of which R&D personnel account for more than 60%. Most of Fibocom's R&D backbones have many years of industry R&D experience and have worked in industry-leading companies such as Fortune 500 companies and domestic research institutes. At the same time, over the years, Fibocom's R&D team has actively communicated and cooperated with Intel, Qualcomm, Unisoc, MTK and other companies. In addition to continuous innovation in technology and products, the R&D process has also been continuously improved to be able to align with internationally advanced product development management processes.

As of June 30, 2021, Fibocom has obtained a total of 55 invention patents, 45 utility model patents and 52 computer software copyrights in the research and development of 2G/3G/4G/5G communication protocol stack software development technology for wireless communication modules and their application industry communication solutions, technology to achieve industrial-grade product performance of -40 to +85 degrees, RF calibration control technology, integrated product development and design technology, interface expansion technology, and integrated application technology.

Quectel said that the mastery of relevant technologies has enabled the company's products to meet the application needs of multiple fields such as mobile payment, mobile Internet, Internet of Vehicles, smart grid, security monitoring, etc., and has laid a good foundation for the company to explore more IoT application fields.